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Colt1911 [192]
3 years ago
7

Which of the following budgetary entries would the town of Geneva make upon adoption of its Special Revenue Fund Budget for the

year? Assume the following: Estimated Revenues $6,400,000 Appropriations 6,080,000 Debit Credit a) Appropriations Budgetary Fund Balance Estimated Revenues $6,080,000 320,000 $6,400,000 b) Estimated Revenues Appropriations Budgetary Fund Balance $6,400,000 $6,080,000 320,000 c) Expenditures Budgetary Fund Balance Revenues $6,080,000 320,000 $6,400,000 d) Appropriations Estimated Revenues $6,400,000 $6,400,000
Business
1 answer:
babunello [35]3 years ago
4 0

Answer:

b) Estimated Revenues Appropriations Budgetary Fund Balance $6,400,000 $6,080,000 320,000

Explanation:

Estimated Revenues                         $6,400,000  Dr

           Appropriations                                                     $6,080,000 Cr

           Budgetary Fund Balance                                        $320,000 Cr

This entry is made on the adoption of  Special Revenue Fund Budget for the year.

The special revenue fund is used for the special purposes such public maintenance etc.

The entry made on closing

Close out the budget at year end

               Appropriations                   $ 6080,0000 Dr

               Budgetary Fund Balance               $ 320,000  Dr

                               Estimated Revenues                                  $ 6400,000 Cr

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Compare and contrast John Keats’s “To Autumn” and Susan Hartley Swett’s “July.” In your response, make sure you include the answ
Vera_Pavlovna [14]
The principle is the loan amount so it would be $1,000.
Hope it helps!
6 0
3 years ago
Label the statements as increasing GDP in either Canada or the United States.
Sidana [21]

Answer:

Increasing Canadian GDP:

-Toyota, a Japanese company, manufactures cars in Toronto, Ontario.

-ATI Technologies, a Canadian company, operates in Alberta.

Increasing American GDP:

-Toyota, a Japanese company, manufactures cars in San Antonio, Texas.

-Starbucks, a U.S. company, opens stores in New York state.

-Tim Horton's, a Canadian company, opens coffee shops in New England.

Explanation:

Gross domestic product (GDP) is the sum of all final goods and services produced in an economic space for a certain period, usually one year, excluding the intermediate consumption used in production. Until the 1980's, the use of Gross National Product (GNP) was preferred, a measure almost identical to GDP but incorporating goods and services produced by external factors. The variation in this macroeconomic magnitude is often used to measure economic growth.

5 0
3 years ago
Company Earnings per Share Market Value per Share 1 $ 11.00 $ 176.00 2 8.00 78.40 3 6.00 77.40 4 35.00 203.00 Compute the price-
babymother [125]

Answer:

16

9.8

12.90

5.8

Explanation:

The price to earning ratio is a financial metric used to value a company. it compares the price of a stock to the earnings of the stock. the lower the metric is, the higher the valuation of the firm

price to earning ratio = market value per share / earnings

1 = 176/11 = 16

2. 78.40 / 8 = 9.8

3. 77.40 / 6 = 12.90

4. 203/35 = 5.8

3 0
2 years ago
Your grandmother has been putting $1,000 into a savings account on every birthday since your first (that is, when you turned one
lukranit [14]

Answer:

The amount in the account on the  18th birthday = $ 25,645.41

Explanation:

<em>The investment can be described as an ordinary annuity. An ordinary annuity is a series of equal periodic cash flows that  occur for a certain number of years</em>

<em>The amount the invest will accrue principal plus interest is known as the f</em><u><em>uture value</em></u><em> of the annuity</em>

It is determined as follows:

<em>FV = A ×  ( (1+r)^n -1  ) / r</em>

FV - ?,  A = 1000.  r - 4%- 0.04, n - 18

FV = 1,000× ( ( (1.04)^(18) - 1 )/ 0.04

    = 1,000 ×  25.64541288

    = $ 25,645.41

The amount in the account on the  18th birthday = $ 25,645.41

5 0
3 years ago
Rauch Incorporated leases a piece of equipment to Donahue Corporation on January 1, 2017. The lease agreement called for annual
Likurg_2 [28]

Answer:

PART-1)

Fair value of leased asset to lessor  = 25,000

Minus: PV of un-guaranteed residual value $8,250 X 0.82270  = 6,787

Amount to be recovered through lease payments  = 18,213

Four periodic lease payments ($18,213 /3.72325)  = 4,892

PART-2)

<u>01/01/2017 </u>

Debit: Cash  = 4,892

Credit: Unearned Lease Revenue  = 4,892

<u>12/31/2017</u>

Debit: Unearned Lease Revenue  = 4,892

 Credit: Lease Revenue  = 4,892

<u>12/31/2017</u>

Debit: Depreciation Expense  = 3,333

 Credit: Accumulated Depreciation – Equipment  = 3,333

6 0
3 years ago
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